[chrisBob]

I think your peers at an Ivy League school are much more likely to be wealthy, and slightly more likely to be interested in academics. Perhaps some of this disagreement comes from the other schools used for comparison. I figure the OP is looking at good schools either way.

You should also be careful about the top professors. The best professors are experts in their field, but you may be better off taking a class from someone who loves to teach, rather than someone who is an excellent scientist. Famous professors are much less valuable to an undergrad.

[gregcohn]

I think it depends on the Ivy in question(re your first point). On your second, absolutely agree. But again, say you want to do research work, or take a graduate course. In a "best in the world" environment, the average of your opportunity set there is going to be higher than a non-best-in-class environment.